4:26 AM
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MARKET REVIEW
After a freefall of last trading day, today STI was quite and having a range bound movement, but closed in positive node. STI opens @ 3110.48, than goes down and took support @ its lower level of 3105.32, and after that it made a high of 3121.66 , but finally closed @ 3113.09 with gain of 2.61 point up by 0.08%.
MARKET FORECAST
STI breaks all its support level of 100-50-200 day MA levels and today also it was trading below the resistance levels and can't even trade near
to resistance levels.
STI formed a short candle, which denotes very low movement in the market STI trades in very narrow range of 15 points in the whole day. Today is ranging move in STI and yesterday it breached its all major MA levels and today also it took support @ 3105 levels, if it will fails to recover from this level than it could be more bearish in coming days and we can see 100-150 points' correction from this level.
SUPPORT
STI having strong support @ 3090 @ its 50 week MA levels and below this level it can take support @ 3045-3010 levels.
RESISTANCE
STI having Resistance @ 3135 and above this level 3150-3170 will be the small and also major resistance zone for STI.
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